The FTSE 100 rose more than 1% on Monday, rebounding after a recent sell-off triggered by worries over the economic fallout from the conflict in Iran. UK equities tracked gains in European and US markets, supported by Federal Reserve Chair Jerome Powell’s reassurance that longer-term inflation expectations remain well anchored.
Energy majors were among the standout performers: Shell advanced 2%, while BP gained 2.5% as crude prices headed toward their strongest monthly increase in some time. Major banks also moved higher, with HSBC Holdings, Lloyds Banking, Barclays and NatWest rising between 0.3% and 1.1%.
Mining stocks rallied as well, with Rio Tinto climbing 3% and Glencore up 2.5%. In contrast, travel and leisure shares lagged the broader market. International Airlines Group slipped 1.9%, and EasyJet Plc declined 1.1% amid ongoing sector pressures.
On the macroeconomic front, the latest data showed a pick-up in UK housing activity, with mortgage approvals rising in February, while consumer credit growth also accelerated.
